How To Treat The Obviously Less Than Expected Blonde Rabbi Amendment 2018 Performance Bulletin Net Profit Decreased By 56.85%

In April 1st, 002762.SZ announced the 2018 annual performance bulletin amendment notice.

Before the amendment, in 2018, the company expected to achieve a total revenue of 453 million yuan, an increase of 5.35% over the same period last year, a profit of 72 million 627 thousand and 900 yuan, a decrease of 32.48% over the same period last year, a total profit of 76 million 390 thousand yuan, a decrease of 29.10% over the same period last year, and a net profit of 66 million 588 thousand and 500 yuan attributable to shareholders of listed companies, a decrease of 27.28% over the same period.

After revision, in 2018, the company expects to achieve a total revenue of 454 million yuan, an increase of 5.56% over the same period last year, a profit of 43 million 689 thousand and 900 yuan, a decrease of 59.39% over the same period last year, a total profit of 44 million 371 thousand and 500 yuan, a decrease of 58.82% over the same period last year, and a net profit of 39 million 512 thousand and 800 yuan attributable to shareholders of listed companies, a decrease of 56.85% compared to the same period.

The difference between the performance bulletin and the previous data is: operating profit decreased by 39.84%, total profit decreased by 41.91%, net profit attributable to shareholders of listed companies decreased by 40.66%, and basic earnings per share decreased by 42.11%.

The main business of the blonde Rabbi has not changed.

The main reasons for the correction are as follows:

In February 2016, the golden hair Rabbi paid 45 million 500 thousand yuan in cash to subscribe for the 6 million 500 thousand new shares issued by Wuhan Jiangtong animation media Limited by Share Ltd (hereinafter referred to as "Jiangtong media"). Its shareholding ratio is 5.14%. The purpose is to explore the possibility of the integration of the company's mother child products and animation IP.

After investing in Jiangtong media, the company strengthened its linkage and played a positive role in upgrading its brand IP image and promoting its brand culture.

At the same time, according to the obvious slowdown and pformation of the animation IP market in recent two years, it actively joined other shareholders in making suggestions for Jiang Tong media's development in the field of animation IP and animation production, and helped to formulate a new development strategy, and strive to promote its pformation and development and enhance its core competitiveness.

Recently, the golden hair Rabbi received Jiang Tong media's "2018 annual audit report".

The audit report shows that its performance audit in 2018 is obviously not as good as expected, especially in terms of less profit, larger balance of inventory and accounts receivable, and insufficient cash flow. Although the pformation has begun, short-term risks can not be ignored.

Proceeding from the principle of prudence, in line with the attitude of being responsible to shareholders, we have made a provision to reduce the value of 30 million 412 thousand and 100 yuan for the sale of financial assets formed by Jiang Tong media after communicating with our accounting firms responsible for annual examination.